GBPUSD LONG on a break-out

We are seeing quite the textbook falling wedge pattern here. As selling pressure exhausts we can expect to see a rally from the bulls. The optimal entry will be on a break of the trend line , with stops placed below the lowest low of the wedge . Expect to see a rally up to around the 1.56500 level, with a break above the 1.57000 we can look for secondary targets.